Madrigal Pharmaceuticals (NASDAQ:MDGL) General Counsel Sells $155,498.40 in Stock

Key Points

• General Counsel Shannon Kelley sold 360 shares on March 6 at an average price of $431.94 for proceeds of $155,498.40, reducing her holding by 2.88% to 12,138 shares; the sale was disclosed in an SEC Form 4.
• Madrigal missed on EPS, reporting ($2.57) vs. $0.04 expected, but revenue rose to $321.08M (beating estimates) and was up 210.8% year-over-year, while the company remains unprofitable with negative ROE and net margin.
• Shares fell about 1.5% to $432.83 and trade below both the 50- and 200-day moving averages; the stock has a market cap of ~$9.93B, institutional ownership of ~98.5%, and analysts hold a consensus "Moderate Buy" with an average target of $685.31.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL - Get Free Report) General Counsel Shannon Kelley sold 360 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $431.94, for a total transaction of $155,498.40. Following the transaction, the general counsel directly owned 12,138 shares in the company, valued at approximately $5,242,887.72. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Madrigal Pharmaceuticals Stock Down 1.5%

Shares of MDGL stock traded down $6.51 on Friday, hitting $432.83. The stock had a trading volume of 440,127 shares, compared to its average volume of 374,182. The stock's 50 day moving average is $492.64 and its 200-day moving average is $486.72. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of -33.63 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a 52-week low of $265.00 and a 52-week high of $615.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($2.57) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($2.61). The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative return on equity of 43.76% and a negative net margin of 30.08%.The business's quarterly revenue was up 210.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.71) EPS. As a group, research analysts expect that Madrigal Pharmaceuticals, Inc. will post -23.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Madrigal Pharmaceuticals from $600.00 to $650.00 and gave the stock an "outperform" rating in a research report on Thursday, November 20th. Canaccord Genuity Group boosted their price target on shares of Madrigal Pharmaceuticals from $526.00 to $587.00 and gave the company a "buy" rating in a report on Thursday, November 13th. Citigroup reiterated an "outperform" rating on shares of Madrigal Pharmaceuticals in a research report on Tuesday, January 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. Finally, TD Cowen restated a "buy" rating on shares of Madrigal Pharmaceuticals in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $685.31.

Hedge Funds Weigh In On Madrigal Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company's stock worth $185,507,000 after acquiring an additional 397,076 shares in the last quarter. Norges Bank purchased a new stake in shares of Madrigal Pharmaceuticals in the fourth quarter worth approximately $114,368,000. Adage Capital Partners GP L.L.C. grew its position in Madrigal Pharmaceuticals by 96.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company's stock valued at $113,842,000 after purchasing an additional 184,554 shares in the last quarter. Baker BROS. Advisors LP increased its stake in Madrigal Pharmaceuticals by 8.4% in the 3rd quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company's stock valued at $982,313,000 after buying an additional 165,683 shares during the period. Finally, Deutsche Bank AG lifted its position in Madrigal Pharmaceuticals by 414.5% in the 4th quarter. Deutsche Bank AG now owns 192,109 shares of the biopharmaceutical company's stock worth $111,873,000 after buying an additional 154,767 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

About Madrigal Pharmaceuticals

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company's pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.

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